Northmarq’s Pacific Northwest Investment Sales team arranges $19M sale of Canyon Ridge Plaza in Kent, WA
Photo source: Northmarq
KENT, Wash. — Northmarq’s Pacific Northwest Investment Sales team led by Sean Tufts, Kevin Adatto, Joe Dugoni, and Jack Hallberg, successfully completed the $19 million sale of Canyon Ridge Plaza, an 86,909-square-foot multi-tenant retail community center located at 26015 104th Ave. SE in Kent, Washington.
The property was acquired by Kimco Realty.
“Shopping centers continue to be one of the most sought-after asset classes in commercial real estate, with institutional capital committing to the space despite a challenging market environment,” Tufts said. “Centers with a strong off-price and value roster remain at the top of that demand. We appreciate the opportunity to represent this asset and are pleased with the result.”
Built at the intersection of 104th Ave. SE and SE 260th Street, Canyon Ridge Plaza is shadow-anchored by a corporate-owned Target, with a tenant roster that includes Ross Dress for Less, Old Navy, Petco, Bath & Body Works and Verizon Wireless. The property is 94% leased.
Six tenants have executed new or extended long-term leases since January 2025, including a 10-year renewal from Ross Dress for Less. Burlington, TJ Maxx and Harbor Freight have recently opened adjacent to the center, strengthening the surrounding value retail corridor.
The five-mile trade area encompasses more than 258,000 residents, and retail submarket vacancy stands at 4.5%.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
